Digital payment services make further advances in Latin America and the Middle East

Digital payment services make further advances in Latin America and the Middle East

Digital and mobile finance and payment services are continuing to make advances in developing regions – as recent announcements involving Latin America and the Middle East suggest.

CrossRegional, an asset management firm focused on emerging markets, and Abakus, an Argentine end to end, peer-to-peer worldwide financial ecosystem platform, have announced plans to provide millions of underserved people in Latin America easy access to products and services through a digital wallet.

CrossRegional, through its digital fintech company CrossRegional Digital Strategy, plans to partner with Abakus in developing an enhanced digital wallet for the consumer lending app, Clave. Clave is described as a digital platform providing credit and services to ordinary people in Latin America with extraordinary ease.

The Abakus ecosystem is expected to offer loans, P-to-P payments, crypto and other services. In addition thanks to an Abakus partnership with Coreledger, a Swiss company specialized in asset digitization and tokenization, CrossRegional and Abakus will develop a disruptive worldwide tokenized assets platform, as well as offer other DeFi (decentralized finance) services.

Meanwhile operator Mobily, which is present in a number of countries in the Middle East, says it has gone live with the Optiva payment solution on Mobily private cloud. Optiva is a provider of mission-critical, cloud-native revenue management software for the telecommunications industry.

Optiva says that this upgrade to cloud-native technology on the private cloud and a consolidated payment solution platform provides new benefits to subscribers, including online e-vouchers to top up their accounts. It also provides Mobily with increased platform performance that, Optiva suggests, will deliver opex savings.